Mead Johnson Drops As China Probes Milk Prices

Shares of Mead Johnson are sinking this afternoon following reports that the Chinese government is scrutinizing infant formula prices.

The Chinese government is investigating powdered milk prices at a number of foreign companies including Mead Johnson Nutrition (MJN) and Danone (DANOY), according to a FlyontheWall.com post. Mead Johnson, which sells baby formula under the brand name Enfamil and other nutritional products, said in a prepared release that it is cooperating with,